Porsche’s future plans include a new luxury electric SUV

Porsche aspires to continue growing in the short and medium term. The Stuttgart firm has taken advantage of Capital Markets Day 2022 to throw some brushstrokes about Porsche’s future plans, a strategy for the coming years that includes new launches, a new direction for the company, record income and higher profitability .

As reported by the German manufacturer, by 2022 it has a revenue target of between 38,000 and 39,000 million euros, approximately. Porsche explained in a statement that “it continues to focus on exclusive and high-quality products, electromobility and sustainability. […] to redefine the concept of modern luxury”.

Porsche’s future plans include a new luxury electric SUV

One of the most important announcements issued by the CEO of the company, Oliver Blume, has to do with a future expansion of the product range.

“We plan to add a new fully electric luxury SUV model to our attractive portfolio, which will roll off the production line in Leipzig. This will further expand our presence in the luxury market. We are targeting the segments with the highest margin and our objective is to take advantage of new sales opportunities in them”, explained the executive.

On the other hand, Lutz Meschke, Vice Chairman of the Board of Management of Porsche AG in charge of Finance and IT, has assured that the company foresees revenues that will be in the range of 38,000 to 39,000 million euros, as well as a margin of between 17% and 18% assuming that there is no deterioration in the economy or possible interruptions in the supply chain.

But in the Stuttgart firm they are even more ambitious and hope in the long term to achieve a margin on sales of more than 20%. With this, “the company wants to consolidate its position as one of the most profitable car manufacturers in the world.”

Sustainability, luxury and new customers

Another aspect that has been revealed on Capital Markets Day 2022 is its ambitious sustainability goals. Porsche sets goals along the way, such as making more than 80% of vehicles delivered by 2030 electric. The next milestone will be the launch of the electric Porsche Macan, as well as achieving a net carbon neutral value chain by 2030.

Porsche has also set its sights on the possibility of capturing new customer groups. The firm claims to be well positioned in Europe, North America and China, but in the future it hopes to include younger and more diverse buyers belonging to the next generation, as well as an increase in the proportion of women in this group of clients.

Finally, Porsche has set its sights on the luxury segment as a new business opportunity. According to expert studies, this market is expected to see solid growth in the coming years, with electric cars and SUVs as the main drivers of such growth.